News Agencies Feed
SHUAA Capital Initiates Egypt Operations Following Green Light by Egypt Financial Supervisory Authority for Securities Brokerage

Nov 26

SHUAA Capital Initiates Egypt Operations Following Green Light by Egypt Financial Supervisory Authority for Securities Brokerage

SHUAA Capital, the United Arab Emirates-based integrated financial services firm, today announced that its securities brokerage arm ‘SHUAA Securities’ has officially commenced operations in the Egyptian market, following green light by the Egyptian Financial Supervisory Authority (EFSA).

With an initial and dedicated 40 person strong task-force, SHUAA Securities Egypt has been successfully executing its first transactions since being granted approval on 11 November 2017.

SHUAA Capital had earlier confirmed a regional growth and development strategy via both organic and inorganic prospects, and the launch of SHUAA Securities Egypt is testament to the Group’s turnaround roadmap. This official presence out of Cairo, is a natural extension to SHUAA’s broader brokerage network, allowing retail and high-net-worth clients from across the region easier access to Egyptian capital markets.

Fawad Tariq-Khan, General Manager of SHUAA Capital, said: “SHUAA Securities Egypt is an important component of our work to offer clients access to the region’s key capital markets. Due to the country’s strong economic fundamentals and depth of available opportunities, we have received strong interest in the Egyptian market from clients in 2017. SHUAA Securities Egypt will enable us to meet this demand and help us to deliver another significant element of the Group’s long-term growth strategy. We thank the Egyptian authorities and regulators for their support and guidance throughout the process.”

Securities brokerage is a vital business line for SHUAA’s overall Capital Markets service offerings. Through a strategic move, the Group had recently entered into an agreement to acquire ‘Integrated Securities’, the leading UAE based brokerage firm, thus boosting SHUAA’s regional client base, and allowing it to benefit from synergies and better streamlining of operations. Today, the re-engaging of the Egypt market by a much stronger SHUAA Securities is expected to pave the way for further expansion by the Group’s other business lines on the North African platform over the medium term.

Cautionary Statement Regarding Forward-Looking Information:

This document contains forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Forward-looking statements can be identified by words such as: 'anticipate,' 'aspire,' 'intend,' 'plan,' 'goal,' 'objective,' 'seek,' 'believe,' 'project,' 'estimate,' 'expect,' 'forecast,' 'strategy,' 'target,' 'trend,' 'future,' 'likely,' 'may,' 'should,' 'will' and similar references to future periods.

Examples of forward-looking statements include, among others, statements we make regarding:

Expected operating results, such as revenue growth and earnings.

Anticipated levels of expenditures and uses of capital

Current or future volatility in the capital and credit markets and future market conditions.

Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: Our ability to maintain adequate revenue levels and cost control; economic and financial conditions in the global markets and regional markets in which we operate, including volatility in interest rates, commodity and equity prices and the value of assets; the implementation of our strategic initiatives, including our ability to effectively manage the redeployment of our balance sheet and the expansion of our strategic businesses; the reliability of our risk management policies, procedures and methods; continued volatility in the capital or credit markets; geopolitical events; developments and changes in laws and regulations, including increased regulation of the financial services industry through legislative action and revised rules and standards applied by our regulators.

Any forward-looking statement made by us in this document and presentation is based only on information currently available to us and speaks only as of the date on which it is made. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in this document. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

Established in 1979, SHUAA Capital psc (‘SHUAA’) is an integrated financial services firm headquartered in the United Arab Emirates. The firm services corporate and institutional clients, Governments, family businesses and high-net-worth-individuals with expertise in the areas of asset management, investment banking advisory services, capital markets and credit. SHUAA is a public shareholding company with its shares listed on the Dubai Financial Market. The firm is regulated as a financial investment company by the UAE Central Bank. www.shuaa.com